Wednesday, April 24, 2024

Keep Your Business Growing Despite A Drop In Sales.

September 30, 2020 by  
Filed under Money/Business, Tech/Internet, Weekly Columns

( We think this is, now more than ever, the perfect time to talk about some of the things that are going on in the world and how it might be affecting your business. The world has definitely changed over the last few months, well, since the beginning of the year. To say that the year has tested us would be an understatement. Even thinking outside of business, personal lives have been ruined by loss. Whether that means loss of freedom, loss of a job, or loss of a loved one. The way that the world currently operates is just far different, and we think it’s the uncertainty of the next few months that’s really going to be damaging businesses. We know there is no cure at the minute which means that as the colder winter months come, and the usual bugs come with it, there’s a likelihood that the world is going to shut down again. If not fully, enough to affect the flow of business. So, if you made it through the first round of the battle, we want to give you some tips on how you can get through it in the second half. Keep on reading to find out more. 

Customer Retention

This is one of the most important things that any business should be doing, whether there is a global pandemic going on or not. Customer retention is so important for building a brand that people trust. If you notice that you’re only ever having customers come into your store once or twice, or order online just once, it might be worth thinking about what you can do to retain them. If you’re selling multiple products that would appeal to the needs of the same person and they’re not coming back, it’s most likely because they’ve gone to another brand. One way of retaining customers is to give them a discount for the next time that they order or come into the store, if you have one. It’s the age old trick that has always worked. Some customers might be annoyed they couldn’t receive the discount beforehand, but they will most likely come back to shop for more with it at a later date. You could also try improving your brand and the message that it sends out. If you do all you can to be better for the environment, and better for the people you’re selling to, it gives off such a better image than a brand that doesn’t seem to care. Promote the fact that you’re eco-friendly, and if you’re not, make changes so that you are. Promote that you’re there for your customers and make sure that you have an aftercare package in place. Perhaps something like a courtesy call or email to make sure they’re happy. The more of a positive presence you have both to the general public, and the customers you’re trying to retain, the easier it’ll be to make sales. 

Only The Best Marketing 

Marketing is definitely going to help boost your business and keep the flow of sales going, even if it’s not what you would want it to be. Marketing is hard to get right. We know that so many businesses fail to get the right marketing campaign to work for them, and there are some brands who have done one successful marketing campaign and it has been the turning point of their business. All we know, is do it right and it will benefit you in the long run in terms of bringing in new sales. One marketing method that any small business should try is SEO. As a small business your website is going to be pretty much non-existent in a search engine. Unless someone were to search your actual brand name or website, and even then something similar might come up before you. SEO makes your brand more noticeable on Google by bumping it up the pages. Rather than page 20 you could be page 5. You’re far more likely to get spotted on the first two pages, after that your chances decrease. It’s one of the more expensive campaigns to run but it definitely does carry a lot of value. Considering pretty much everyone prefers to shop online now, your online presence is essential. Other marketing techniques that work well are TV advertising and billboard advertising. They’re more in your face and direct, rather than waiting a while for an SEO campaign to take effect. 

Make Preempted Cutbacks 

We can tell that this year is not finished with us, and the chances of being restricted further due to a fall in the supply chain, or perhaps a local lockdown, so we need to be prepared. It’s during these times that your business is really going to take a hit, so we’d recommend thinking about all of the cutbacks that you could make now that will make a difference. It might just be a cutback to your spending each month. Reduce the amount of materials you’re buying, scale back on your monthly payouts now to try and avoid big damage in the future. This is especially important if you have employees to pay, you wouldn’t want to lay anyone off within the next couple of months. It might be worth talking to a financial advisor to get the best advice for your business, each business has unique circumstances. 

Broaden Your Products Or Services

Finally, now might be a good time to think about any new products or services that you might be able to bring in. The more you have to offer, the more likely you are to make money. It has to be relevant to your brand and to the vision you’ve already had. If you do some market research you’ll be able to find out what it is that people might want for your business so that you can introduce it. Market it well and before you know it you could have a way of making money like never before! Just try and make sure the risk isn’t high along with the investment.

Staff Writer; Calvin Parker

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